Pets-R-Us Adjusted Trial Balance 31-Dec-23 Accounts Debit Credit Cash $165,000 Accounts Receivable 130,100 Inventory 39,500 Land...

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Pets-R-Us Adjusted Trial Balance 31-Dec-23 Accounts Debit Credit Cash $165,000 Accounts Receivable 130,100 Inventory 39,500 Land 67,300 Buildings 120,000 Accumulated Depreciation 10,400 Accounts Payable 6,700 Salaries Payable 26,100 Income Tax Payable 8,000 Notes Payable (Current) Notes Payable (Long-term) Common Stock Retained Earnings 17,300 81,600 200,000 155,400 Sales Revenue 195,000 Cost of Goods Sold 112,500 Salaries Expense 55,000 Bad Debt Expense 2,300 Depreciation Expense 800 Income Tax Expense Totals Calculate the following balances: Gross profit Operating income 8,000 $700,500 $700,500 Net income Total long-term assets Total current liabilties Retained earnings on the balance sheet Total stockholders' equity Pets-R-Us Adjusted Trial Balance 31-Dec-23 Accounts Debit Credit Cash $165,000 Accounts Receivable 130,100 Inventory 39,500 Land 67,300 Buildings 120,000 Accumulated Depreciation 10,400 Accounts Payable 6,700 Salaries Payable 26,100 Income Tax Payable 8,000 Notes Payable (Current) Notes Payable (Long-term) Common Stock Retained Earnings 17,300 81,600 200,000 155,400 Sales Revenue 195,000 Cost of Goods Sold 112,500 Salaries Expense 55,000 Bad Debt Expense 2,300 Depreciation Expense 800 Income Tax Expense Totals Calculate the following balances: Gross profit Operating income 8,000 $700,500 $700,500 Net income Total long-term assets Total current liabilties Retained earnings on the balance sheet Total stockholders' equity

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Answer To calculate the requested balances we can use the information provided in the adjusted trial ... View the full answer